LXP reports Q2 2022 net income $0.14/shr, adjusted FFO $0.17, reaffirms FY guidance

LXP Industrial Trust

2022-Q2 EPS reported $0.17 revenue$160,053,000

Q2 net income $39.7M ($0.14/shr) vs $71.0M ($0.26) YoY; revenue $79.8M vs $81.5M.
Adjusted Company FFO $48.9M ($0.17/shr) vs $52.2M ($0.18); FY guidance reaffirmed at $0.64-$0.68.
Industrial portfolio 99.3% leased; same-store NOI +5.8%; new/extended leases 0.9M sq ft with 21.3% rent increase.
Acquired $59.1M warehouse in Phoenix, 60 acres land; disposed $55.1M in properties; repurchased 6.1M shares at $11.45.
Amended credit facility extends revolving maturity to July 2026; net debt/EBITDA 6.8x (6.1x incl. forward sales).

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